Parliament of Kazakhstan ratifies agreement on harmonization of EAEU laws in financial market sphere

AKIPRESS.COM - The Senate members of Kazakhstan ratified the agreement in harmonization of the legislation of the EAEU member states in the sphere of financial market, Sputnik Kazakhstan reports.
Deputy Chairman of the National Bank of Kazakhstan Eszhan Birtanov during the plenary session said that the agreement was developed in line with the 70th article of the agreement on EAEU on harmonization of legislation in the financial market sphere dated May 29, 2014.
"The agreement allows to lift the barriers for access to the financial organizations to mutually beneficial markets of the EAEU countries," Birtanov noted.
The document includes 7 areas, including requirements for participants of the financial markets concerning their creation, foundation and activities, regulation of risks in the financial market sphere in compliance with the international standards, supervising requirements and the procedure of controlling over participants of the financial market.
In addition, the state bodies of the union harmonize the efforts for mutual recognition of licences, requirements for information disclosure in the sphere of financial market and purchase of stakes by investors of the EAEU member states in full ownership of participants of the financial market.
Russia and Belarus have earlier ratified the agreement. Kyrgyzstan and Armenia continue their intergovernmental procedures.